Investment Rating - The report maintains a "Buy" rating for Anta Sports [4][5][13] Core Viewpoints - Anta Sports is focusing on enhancing its product lines, particularly the Kyrie series, while also introducing the PG7 technology aimed at the general public for running shoes [1][2] - The company is expected to benefit from the growing sports and outdoor market, with projected revenues of RMB 78.6 billion, RMB 88.3 billion, and RMB 101.1 billion for the years 2025 to 2027 [4] - The report highlights the innovative features of the PG7 technology, including a G value of 7.8 for shock absorption and a design tailored for East Asian foot shapes, which has led to global sales of over 3 million pairs by March 2025 [2][3] Summary by Sections Product Development - Anta has launched the Kyrie 2, featuring high-quality leather, nitrogen technology insoles, and a lightweight exoskeleton material for enhanced performance [1] - The PG7 technology, designed for the general public, emphasizes shock absorption and comfort, with a price point around RMB 300, making it accessible [2][3] Financial Projections - The report forecasts net profits of RMB 13.5 billion, RMB 15.7 billion, and RMB 17.9 billion for the years 2025 to 2027, with EPS expected to be RMB 4.82, RMB 5.60, and RMB 6.39 respectively [4] - The PE ratios are projected to be 18, 15, and 13 for the same period [4] Market Position - Anta Sports is positioned as a leading player in the non-essential consumer goods sector, particularly in textiles and apparel, benefiting from a robust brand matrix [4][5]